Business news

SWIFT tells banks to share information on hacks

Banks use secure SWIFT messages for issuing payment instructions to each other.

May 21, 2016

EU regulators to conditionally clear AB Inbev, SABMiller deal: Sources

The Belgium-based maker of Budweiser, Corona and Stella Artois is looking to boost its presence in Africa and Latin American countries to offset weaker markets such as the United States.

May 21, 2016

Nokia cuts over 1,000 jobs in Finland

Finland's biggest company has cut thousands of jobs in its home country over the past decade as its once-dominant phone business was eclipsed by the rise of smartphone rivals.

May 21, 2016

SEBI seeks more disclosure on investments through P-Notes

The market regulator's move is aimed at curbing the inflow of black money into the Indian capital markets.

May 20, 2016

IDBI Bank reports Rs. 1,736 crore loss for March quarter

A 159 percent spike in provisioning for bad loans led to the bank reporting a loss as against a net profit in the March 2015 quarter.

May 20, 2016

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Silver prices fall below Rs. 40,000 for the first time in one month, gold closes with minor losses

Silver prices closed at Rs. 39,950 per kg on Friday. Gold also has been weak over fears of interest rate hike.

May 20, 2016

SpiceJet shares nosedive despite posting record net profit for March quarter

Budget carrier SpiceJet net profit for March 2016 quarter skyrocketed to Rs. 73 crore from Rs. 22 crore, y-o-y.

May 20, 2016

Reliance Lyf makes it to top five smartphone brands in India: Counterpoint Research

Global smartphone sales grew 3.9% in Q1 2016; Oppo enters Top 5: Gartner

Oppo was the top performer in Q1 2016, as it saw 145 percent growth in sales as compared to the same period previous year.

May 20, 2016

HSBC to shut down 24 branches in India

The bank said it plans to consolidate to 26 branches in 14 cities across India.

May 20, 2016

EU aims to rule on Amazon's Luxembourg tax deal by July

The aid regulator may order the country's tax authorities to recover about 400 million euros ($448 million) in back taxes.

May 20, 2016

Sensex tumbles 305 points over fears of interest rate hike by US Fed

An increase in interest rate by the US Fed is generally expected to trigger flight of capital from emerging markets such as India.

May 19, 2016

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Tata Communications selling 74% stake in data centre business to ST Telemedia

The Tata Communications-ST Telemedia deal, which also involves takeover of debt, is valued at Rs. 4,239 crore.

May 19, 2016

JSW Steel posts net profit of Rs. 171 crore for Q4 FY16; shares rise

JSW's revenues fell almost 15 percent to Rs.10,697.52 crore in the fourth quarter of financial year 2015-16.

May 19, 2016

India offers oil-for-drugs deal to recover $100 million from cash-strapped Venezuela

The South American country owes the amount to pharma firms such as Dr Reddy's, Sun Pharma and Glenmark for medicine supplies.

May 19, 2016

Sun TV shares plunge 12% as DMK alliance trails AIADMK in initial trends

Sun TV Network is owned by Kalanidhi Maran, grandnephew of DMK president M Karunanidhi.

May 19, 2016

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